Food prices to rise as agri group boss warns on fertiliser costs
Sean Coyle, chief executive of Origin, said the effect of gas hikes on production costs were being passed on to farmers and the food supply-chain
European consumers are already facing higher energy bills this winter, but the price of food could follow suit due to rising fertiliser costs in the food supply chain, a senior business figure has warned.
Sean Coyle, chief executive of Origin Enterprises, the agribusiness group, said the outlook for fertiliser markets showed prices were going to remain at their highest level in over a decade for quite some time.
“Fertiliser prices are set to hit pretty high levels over the next six to 12 months,” he told the Business Post after Origin posted a double-digit increase in full-year profits last week.